The company made this announcement during trading hours on Monday, 25 October 2010, when the stock had declined 0.78% to Rs 94.90.

Meanwhile, the BSE Sensex was up 24.46 points, or 0.12% at 20,327.58.

On BSE, 2.98 lakh shares were traded in the counter as against an average daily volume of 1.89 lakh shares in the past one quarter.

The stock hit a high of Rs 99.90 and a low of Rs 95.45 so far during the day. The stock had hit a 52-week high of Rs 103.70 on 15 October 2010 and a 52-week low of Rs 70.45 on 22 March 2010.

The small-cap stock had outperformed the market over the past one month till 25 October 2010, rising 5.04% compared with the Sensex's 1.29% rise. It had underperformed the market in past one quarter, gaining 5.50% as against 11.98% rise in the Sensex.

The company has an equity capital of Rs 18.57 crore. Face value per share is Rs 2.

Elecon Engineering Company's net profit surged 56.7% to Rs 13.32 crore on 15.9% rise in net sales to Rs 246.05 crore in Q1 June 2010 over Q1 June 2009.